The Philadelphia Eagles won their first Super Bowl recently, defeating the formidable New England Patriots with their future Hall-of-Fame duo of quarterback Tom Brady and head coach Bill Belichick. The Patriots were in-line to win their sixth NFL title and adding to their reputation as the greatest team of all time. Standing in their way were the Eagles led by their second-year head coach Doug Peterson and backup quarterback, Nick Foles. It appeared the cards were stacked against Philadelphia as they entered the game, understandably, underdogs.
Press Taylor, the offensive quality control / assistant quarterback coach for the Eagles had the responsibility to research game films from every team in the league. As part of his process he evaluated successful “trick plays” that could come in handy should a situation warrant a special play for the Eagles. Taylor’s research uncovered a play the Chicago Bears executed for a touchdown in 2016 against the Minnesota Vikings. The Eagles “borrowed” the play and entered it into their playbook as the “Philly Special”. The “Philly Special” will go down as the most famous touchdown in Eagles history. Not only was it called at a critical time; it was also a very gutsy move by Peterson that many believe changed the course of the Super Bowl.
Switching gears to business, from a macro standpoint, many factors must come into play for a company to achieve its revenue growth goals. There must be a common goal for the organization; the right team must be in place to execute a strategic plan and leadership must calculate risk to select the best way to reach its objectives. A company must know what its markets require, understand the needs of its customers/prospects, and keeps a watchful eye on its competitors. When a company actively engages in research, they increase the odds of a successful outcome, as they are more knowledgeable than those with whom they compete. This practice is no different than what Press Taylor and the Eagles executed when identifying the “Philly Special” and using it to their advantage.
As research can be seen as time consuming and costly, many organizations will forgo it as a practice or use it to validate an idea they have already invested time and money in. However, if done with the goal to obtain insight that provides a competitive edge, it can be a wealth of knowledge that shapes every part of your organizations efforts. Sales become better informed on what customers and prospects want and who to pursue to improve sales. Marketing will learn what is most important to customers and addresses those needs in communications. Product teams use it to ensure what they bring to market is what is needed and wanted.
We at Inventis Strategies believe research must be simple to execute and provide the insight a company needs to reach its business objectives.
These are 4 critical steps we believe every company should practice yearly to gain insight and grow their business:
If you are struggling to identify where to begin or lack resources, we have built a tool for companies to apply that achieves all four steps called Market Opportunity Optimization or MO2. The MO2 is a combination of market analysis and planning tools that provide a complete picture of market opportunities, potential barriers to growth and issues a company will need to address in order to achieve / exceed its growth goals.
By uncovering the right information on the market, integrating it into a strategic plan and executing on the plan, we believe this is the right formula for a company to create its own “Philly Special” and overcome challenges to growth and achieve their ultimate goals.